Bank of America Trims BWX Technologies (BWXT) Target Price to $58.00

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BWX Technologies (NYSE:BWXT) had its price objective lowered by equities researchers at Bank of America from $70.00 to $58.00 in a research report issued to clients and investors on Thursday. The firm presently has a “neutral” rating on the technology company’s stock. Bank of America’s target price points to a potential upside of 22.65% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of BWX Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, October 17th. SunTrust Banks dropped their target price on shares of BWX Technologies from $83.00 to $79.00 and set a “buy” rating for the company in a research report on Tuesday, August 21st. Finally, ValuEngine cut shares of BWX Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $62.38.

BWXT traded up $0.84 during trading on Thursday, hitting $47.29. 1,861,681 shares of the stock traded hands, compared to its average volume of 782,323. The stock has a market capitalization of $4.57 billion, a P/E ratio of 23.07, a PEG ratio of 1.84 and a beta of 0.58. The company has a quick ratio of 2.88, a current ratio of 1.90 and a debt-to-equity ratio of 1.93. BWX Technologies has a 12-month low of $44.50 and a 12-month high of $72.18.

BWX Technologies (NYSE:BWXT) last announced its quarterly earnings results on Tuesday, November 6th. The technology company reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.22). The firm had revenue of $425.50 million for the quarter, compared to analysts’ expectations of $461.26 million. BWX Technologies had a net margin of 10.81% and a return on equity of 66.38%. The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.46 EPS. Sell-side analysts expect that BWX Technologies will post 2.23 EPS for the current fiscal year.

In related news, VP Jason S. Kerr sold 1,365 shares of BWX Technologies stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $64.06, for a total transaction of $87,441.90. Following the completion of the transaction, the vice president now directly owns 9,132 shares of the company’s stock, valued at approximately $584,995.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO David S. Black sold 1,000 shares of BWX Technologies stock in a transaction dated Thursday, October 11th. The shares were sold at an average price of $57.65, for a total transaction of $57,650.00. Following the transaction, the chief financial officer now directly owns 68,570 shares of the company’s stock, valued at $3,953,060.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,365 shares of company stock valued at $269,062. Corporate insiders own 0.76% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of BWXT. LPL Financial LLC purchased a new position in BWX Technologies during the 1st quarter valued at about $256,000. Guggenheim Capital LLC increased its stake in BWX Technologies by 11.7% during the 1st quarter. Guggenheim Capital LLC now owns 26,945 shares of the technology company’s stock valued at $1,712,000 after purchasing an additional 2,832 shares in the last quarter. Legal & General Group Plc increased its stake in BWX Technologies by 2.9% during the 1st quarter. Legal & General Group Plc now owns 59,323 shares of the technology company’s stock valued at $3,769,000 after purchasing an additional 1,698 shares in the last quarter. State of Alaska Department of Revenue increased its stake in BWX Technologies by 32.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 11,420 shares of the technology company’s stock valued at $711,000 after purchasing an additional 2,790 shares in the last quarter. Finally, Pennsylvania Trust Co increased its stake in BWX Technologies by 11.4% during the 2nd quarter. Pennsylvania Trust Co now owns 58,656 shares of the technology company’s stock valued at $3,655,000 after purchasing an additional 6,011 shares in the last quarter. 94.90% of the stock is owned by institutional investors.

BWX Technologies Company Profile

BWX Technologies, Inc manufactures and sells nuclear components to the United States government. The company operates in three segments: Nuclear Operations, Technical Services, and Nuclear Energy. The Nuclear Operations segment offers precision naval nuclear components and reactors; close-tolerance and equipment for nuclear applications; and components for defense applications, as well as critical nuclear components, fuels, and assemblies for government and other uses.

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